Forbes Advisor UK reports these average cash savings by age, citing a 2026 Finder survey: £2,699 for ages 18–24, £11,023 for 25–34, £13,379 for 35–44, £12,452 for 45–54 and £33,420 for people aged 55 and over. They are group averages, not recommended targets for your own savings.
Average cash savings by age in the UK
The figures below are attributed to Finder’s 2026 survey by Forbes Advisor UK’s article on average savings by age, audited and verified on 16 September 2026.
| Age group | Reported average cash savings |
|---|---|
| 18–24 | £2,699 |
| 25–34 | £11,023 |
| 35–44 | £13,379 |
| 45–54 | £12,452 |
| 55 and over | £33,420 |
The reported average does not rise steadily with each age group: the 45–54 figure is below the 35–44 figure, while the 55+ figure is much higher. Averages describe a group; they do not show what a typical person has, nor tell you what you should have saved.
How reliable are these figures?
Forbes Advisor UK attributes the numbers to a 2026 Finder survey, but its accessible article does not state the survey’s sample size, fieldwork dates, question wording or weighting. The figures therefore should not be treated as medians, independently validated estimates, or a precise measure of every UK household’s savings.
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The Financial Conduct Authority’s separate Financial Lives 2024 survey covered 17,950 adults, with fieldwork from 5 February to 16 June 2024. It covers savings and investments, but it is not evidence validating Finder’s 2026 age-band figures. The FCA’s Financial Lives 2024 key findings provide broader context rather than a like-for-like check.
Why your savings may differ from the average
Age alone cannot explain how much someone has put aside. Savings depend in part on income and what remains after housing costs, debt repayments, bills and other spending. Employment status, hours worked and whether someone is in part-time or lower-paid work can also affect how much they can save.
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- Income and essential costs: A higher income does not automatically mean more savings if housing and other costs are also high.
- Debt and obligations: Loan or card repayments, caring responsibilities and other commitments can reduce the amount available to set aside.
- Work patterns: Changes in employment or hours can affect both the ability to save and the need to draw on savings.
- Timing and goals: Someone saving for a near-term purchase may hold cash differently from someone building an emergency reserve or saving over a longer period.
How much should you have saved?
There is no personal target in these age-group averages. A useful goal depends on your regular expenses, income stability, debts, responsibilities, access to other support and the purpose of the money. Consider what you may need to pay for unexpectedly and how quickly you would need access to it, then choose a savings pace that fits your budget.
If you cannot save much right now, that does not mean you have failed to meet an age-based benchmark: the figures are comparisons, not a pass-or-fail standard. Your own progress is better judged against a realistic goal and your changing circumstances.
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What to consider when choosing where to keep savings
Match the account to the job the money needs to do. Check the provider’s current terms before opening an account, because rates, eligibility and conditions can change.
- Access: Easy-access accounts let you withdraw more readily; notice accounts and fixed-term products may restrict access or require advance notice.
- Interest rate: Check the current AER and whether it is variable or fixed, as well as any conditions that apply to earning it.
- Tax treatment: Compare ordinary savings with a cash ISA, checking eligibility and the current tax rules for your circumstances.
- Protection: Confirm that the deposit and institution are covered by the Financial Services Compensation Scheme (FSCS), and how balances across brands are treated.
- Purpose: An emergency reserve usually calls for dependable access; money for a planned purchase or longer-term goal may suit different terms.
How FSCS protection applies to cash savings
Forbes Advisor UK’s FSCS explainer, audited and verified on 12 January 2026, reports protection of up to £120,000 per person per financial institution, with the limit increased on 1 December 2025. The limit applies by institution, not simply by brand: if multiple brands share the same institution, deposits may count together. Check the FSCS guide and current FSCS terms to confirm how coverage applies to your accounts.
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